Acurx Pharmaceuticals Announces A $1M BTC Investment Plan, Amid Bitcoin Rally

Acurx Pharmaceuticals has unveiled a plan to invest up to $1 million in Bitcoin as part of its treasury reserve strategy. A move that aligns the company with firms like MicroStrategy, which uses Bitcoin to hedge against inflation and diversify reserves.

However, the Board approved the decision of Directors on Wednesday, the strategic decision comes amid the Bitcoin price rally and increasing institutional interest in cryptocurrency.

Acurx Pharmaceuticals Strategic Treasury Move  

CEO of Acurx, David P. Luci explained the reasoning behind this decision, stating, “As demand for Bitcoin grows, and so does its acceptance as a major and primary asset class, we believe that Bitcoin will serve as a strong treasury reserve asset for cash not needed over the next 12 to 18 months.” He highlighted that Bitcoin’s limited supply and inflation-resistant qualities make it a reliable store of value, underscoring that this treasury strategy shift will not detract from Acurx’s primary focus on drug development.

Initially, the stock reacted positively in premarket trading, surging 8%. However, it later experienced a decline of more than 6% during regular trading hours, reflecting the market’s cautious stance toward the inherent risks of Bitcoin’s volatility, despite the growing trend of corporate treasury adoption.

MicroStrategy, a trailblazer in corporate Bitcoin holdings, inspires Acurx’s movement into Bitcoin investment. Since its beginning in 2020, MicroStrategy has accumulated a substantial amount of Bitcoin, totaling 331,200 BTC as of this week, and its stock has soared over 500% in 2024.

A Broader Trend in Bitcoin Adoption

The adoption of Bitcoin by corporate treasuries is a significant driver of cryptocurrency’s acceptance into mainstream finance. Other companies, including Tesla, Block, and Semler Scientific, have similarly started to incorporate Bitcoin into their financial strategies.

Moreover, the momentum extends beyond corporations, with discussions about national Bitcoin reserves gaining traction. Sen.Cynthia Lummi proposed the idea earlier this year, and President Donald Trump hinted at similar plans during his campaign.

Successfully, Bitcoin is in rising popularity among crypto investors, which makes it the world’s most reflexive asset. With Bitcoin prices increasing by 122% in 2024, analysts predict its growth will continue, potentially doubling by 2025, especially in a more favorable regulatory climate for cryptocurrencies.